Moving the government agencies to blockchain technology is the next step in Ghana’s massive digitalization initiative, according to the country’s vice president.
The president of Ghana, Mahamudu Bawumia, recently made an announcement regarding the use of blockchain technology in the fight against corruption.
To make sure that all government data and transactions are transparent and unchangeable, we’re going to use blockchain technology. According to Ghana’s vice president, “Government agencies can operate entirely on the blockchain if the technology is successfully implemented.” This would make Ghana the first African country to do so.
By year’s end, according to Mahamudu Bawumia, the government will have successfully moved all expenditure-related transactions to an electronic platform.
National IDs will likely undergo changes as part of the digital transformation initiative. For the purpose of conducting financial transactions and providing government services, officials will establish a single electronic identifier. All of this is supposed to keep people’s private information safe and give authorities more say over who gets social assistance.
The digital cedi has garnered a lot of attention in Ghana, according to Kwame Oppong, head of financial technology and innovation at the Bank of Ghana. Oppong also claimed that a digital currency owned by the state would greatly increase the number of financial services available to Ghanaians.